Regular readers know that my pet peeve is the broadcasters, like Canwest Global, who got themselves into a mess by buying assets at the top and then when they cannot service the loans, asking for Federal help (aka bail-outs) or money from the cable companies (which will probably come out of our hides in the form of higher cable fees).
The irony of a right-wing organization like Canwest, which through the National Post used every opportunity to slam unions and bail-outs, and promoted the free-market devoid of government intervention, asking for this is beyond bizarre.
If your business fails- you close down and someone else buys your assets and gives it a shot. You don't ask for government help or demand contracts be renegotiated with other succesful businiesses.
In any case the CRTC is asking for feed-back here:
This is what I submitted. It took me a few minutes to do so.
Please CRTC DO NOT give in to the pressure from the TV Monopolies. I am a small businessman and if I mess up, over-extend myself and get into financial trouble, I have to deal with the consequences, which include possible bankruptcy.
No one will come to my aid.
However, the TV companies over-paid for assets, over-paid their executives and now are complaining that if we dont face an extra tax to support them they will shut down local programming.
What a farce! Maybe I would be more receptive if they gave an undertakeing to cut their mutimillion dollar purchases of US programming and promised to cap executive pay in the future.
Our media ownership is far too concentrated. Let them break up and others will take over. If necessary the small independants can be funded,but please dont send our money into a big black corporate hole.
Stand up for the Canadian programming and for diversity of ownserhip and views.
BTW - do we need more competition in the cable space too, you betcha. They are already scooping up a bigger share of the internet and cell phone markets too.
Fun with quant: MS Business Conditions edition - Marketwatch recently reported that Morgan Stanley's Business Conditions Index had deteriorated to levels last seen during the 2007-08 financial crisis. Wow...
8 hours ago